• UKIP leader Nigel Farage "accidentally" made an offshore account.
    13 replies, posted
[quote]UK Independence Party leader Nigel Farage has said he made a mistake in setting up a trust fund in the Isle of Man, regarded as an offshore tax haven.[/quote] [url]http://www.bbc.co.uk/news/uk-politics-23001529[/url]
Finger slipped. :v:
Well, he was a business man before he was a politician. What do you expect?
TBH, with the government extorting businesses and individuals for tax, it's no wonder people want to try to keep as much of it as possible. It's the governments fault people have any reason to do this kinda stuff in the first place. Part of that reason is the 50%+ taxes you have to pay as a business owner, before you can use the money. Also, as an individual, if your on the lower end of the earnings spectrum - you can end up making less money in a year, due to taxes, than you would if you simply did nothing and just got given money by the government (being on the dole). If anything the government should be trying to boost startup companies and enticing people to work - but no, if you try to do either of these things, you get bombarded with ridiculous fucking taxes that make it (as a business owner) much harder to make any real money, meaning your less able to hire employees, which means that more people feel compelled to do nothing at all.
Tax dodging in today's environment is basically a norm for businesses. Have you seen how bad British taxes are?
i hate it when that happens
[QUOTE=Vasili;41127526]Tax dodging in today's environment is basically a norm for businesses. Have you seen how bad British taxes are?[/QUOTE] Bad? Tax is 39% of the UK's GDP, we're ranked 20th in the world for it
[QUOTE=Vasili;41127526]Tax dodging in today's environment is basically a norm for businesses. Have you seen how bad British taxes are?[/QUOTE] Perhaps, but it fucking shouldn't be. What's the point of taxes, when the people you're be getting the most tax from aren't paying the bastard things?
[QUOTE=Vasili;41127526]Tax dodging in today's environment is basically a norm for businesses. Have you seen how bad British taxes are?[/QUOTE] AFAIK aren't taxes so damn high because of tax dodging in the first place?
[QUOTE=SCopE5000;41127476]TBH, with the government extorting businesses and individuals for tax, it's no wonder people want to try to keep as much of it as possible. It's the governments fault people have any reason to do this kinda stuff in the first place. Part of that reason is the 50%+ taxes you have to pay as a business owner, before you can use the money. Also, as an individual, if your on the lower end of the earnings spectrum - you can end up making less money in a year, due to taxes, than you would if you simply did nothing and just got given money by the government (being on the dole). If anything the government should be trying to boost startup companies and enticing people to work - but no, if you try to do either of these things, you get bombarded with ridiculous fucking taxes that make it (as a business owner) much harder to make any real money, meaning your less able to hire employees, which means that more people feel compelled to do nothing at all.[/QUOTE] It's actually easier to pay 20% corporate tax as a foreign company (see "tax havens") along with tax on personal earnings. You don't pay any less tax (unless you want a tax free company boat), but you have shittonnes less paperwork. [QUOTE=Sgt-NiallR;41127607]Perhaps, but it fucking shouldn't be. What's the point of taxes, when the people you're be getting the most tax from aren't paying the bastard things?[/QUOTE] People always seem to have this misconception. Even though richer people pay more, there are a lot less rich people. The majority of tax I believe, comes from people earning just over £21,300 (the 50th percentile in tax earned)
[QUOTE=Vasili;41127526]Tax dodging in today's environment is basically a norm for businesses. Have you seen how bad British taxes are?[/QUOTE] Regardless how high taxes are people would still avoid them, because that's just what large corporations will do, and I wholeheartedly support any efforts to close loopholes to prevent it happening. I'll stick up for the government in one respect, they tried to make start-ups easier by giving small companies national insurance breaks and set up a fund to back banks lending to small and medium businesses, which the banks basically kept most of to themselves. To be honest, I'd rather the government had the money so they could fund sorely needed housing projects, help make our education system better so it supports both academic and vocational subjects well, invest more into STEM subjects at university (and university as a whole) so the country has a higher skilled work force to do things like new start-ups , and higher funding to local governments so we can care for the elderly and the disabled in the community far better.
Nigel is the perfect name for someone who has an offshore bank account.
[QUOTE=Flapadar;41127712]It's actually easier to pay 20% corporate tax as a foreign company (see "tax havens") along with tax on personal earnings. You don't pay any less tax (unless you want a tax free company boat), but you have shittonnes less paperwork. People always seem to have this misconception. Even though richer people pay more, there are a lot less rich people. The majority of tax I believe, comes from people earning just over £21,300 (the 50th percentile in tax earned)[/QUOTE] Majority of tax income comes from people earning over £32,000, who pay 40% income tax on all their earnings over £9440, with the median wage in the UK being £26,500 (although evidence seems to suggest the modal wage (i.e. the most common) is around £15,000.
does he regret making it or does he regret being found out
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